Serving the Lutheran Church-Missouri Synod Community
LutheranFCU. Good for You. Good for the Church.

Rostered Church Worker (RCW) Loans

We are excited about continuing the Rostered Church Worker loan programs pioneered by the Lutheran Church Extension Fund. These loans are available to LCMS ordained and commissioned ministers in active or emeritus status. For assistance, please give us a call at (314) 394-2790 or email loans@lutheranfcu.org.

Rostered Church Worker (RCW) Mortgage Loans

In addition to our conventional mortgage loan programs offered to all of our LutheranFCU members, we are also excited to offer the Rostered Church Worker mortgage loan program in certain states through a relationship with the Lutheran Church Extension Fund-Missouri Synod.

This program is only available to LCMS ordained and commissioned ministers in active or emeritus status to purchase or refinance their primary single family residence. 

States highlighted in blue below represent where LutheranFCU can offer RCW Mortgage Loans:

For details about the Rostered Church Worker mortgage loan program on a property located in a state that is not highlighted in blue (above):  you are welcome to call the Lutheran Church Extension Fund directly at (800) 843-5233 or visit www.lcef.org as Lutheran Church Extension Fund originates those loans directly.

Some of the notable benefits of the Rostered Church Worker mortgage loan program are as follows:

  • Loans up to a 95% Loan to Value (5% minimum down payment plus closing costs required)
  • No mortgage insurance required, which is normally charged if you have less than a 20% down payment
  • A smoother underwriting process, as we understand the validity of call documents and use housing allowance as a source of qualifying income
  • Mortgage loan closing can occur up to 30 days prior to you starting your new call
  • Down payment loan assistance from family members and/or calling congregation is allowed
  • No limitation on seller credits for closing costs/prepaids


RCW Consolidation Loans

We understand the unique calling you have answered and your desire to stay focused on your ministry. We strive to help you meet your personal financial needs effortlessly and with a staff that knows the unique qualities of your profession. This program is designed to lend financial assistance by consolidating outstanding debt into one monthly payment.

  • Loans up to $25,000 available
  • Ability to consolidate existing credit balances (credit cards, loans, medical expenses, taxes, auto repair bills, etc.)
  • Loan funds disbursed directly to creditors
  • Interest rates starting at 6%; annually adjustable (6.49% APR*)
  • Payback terms up to 7 years for lower monthly payments


Education Loan Repayment Program for Rostered Church Workers

Student loan debt is a troublesome obligation faced by many church workers. A crushing debt may cause ministers to concentrate more on their financial needs and less on their call for serving their communities. The Education Loan Repayment Program provides a refinance opportunity for both private and federal student loans. It is important to note that unlike federal/government student loan programs, once federal student loans are consolidated through this loan program, they are no longer eligible for certain repayment options that are made available only for federally backed student loans.

  • Loans up to $50,000 available to ordained or commissioned ministers within 5 years of graduation date
  • Ability to consolidate existing federal and private student loans only
  • Up to 10 year repayment terms
  • Annually adjustable interest rate of 4% (4.17% APR**)
  • The online application takes less than 10 minutes to complete with quick decision response times.

 

*APR is the Annual Percentage Rate. Rate referenced above is the lowest rate possible for qualified borrowers and is based on underwriting criteria. There is a one-time $400 loan origination fee. Loan example: $25,000 at 6% for 84 monthly payments of approximately $365.21 each with a corresponding APR of 6.493%. All loans are subject to approval. Additional terms and conditions may apply.

**APR is the Annual Percentage Rate. Rate referenced above is the lowest rate possible for qualified borrowers and is based on underwriting criteria. There is a one-time $400 loan origination fee. Loan example: $50,000 at 4% for 120 monthly payments of approximately $506.23 each with a corresponding APR of 4.17%. All loans are subject to approval. Additional terms and conditions may apply.

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